Hartree Partners, LP Successfully Closes its first Senior Unsecured Revolving Credit Facility Totaling $455 million

Hartree Partners, LP (“Hartree” or the “Company”) announced the closing of its first senior unsecured revolving credit facility (the “Facility”) on September 13, 2024, totaling $455 million.

The $455 million credit facility, which is comprised of a one-year tranche and a three-year tranche, also includes an accordion feature to increase the Facility up to $750 million to support the Company’s liquidity needs and future growth. A diverse group of eight financial institutions participated in the Facility.

Bryan Keogh, CFO of Hartree said “Hartree’s first unsecured revolving credit facility is a major milestone in further diversifying sources of capital available to us. There are significant commodity-related investment opportunities and market events where rapid access to unsecured capital is likely to be the best answer to meet those funding needs. Hartree’s significant capital base and success over the last ten years has allowed us to approach the bank market for this product, and we are extremely grateful for the confidence this bank group has shown through supporting our inaugural unsecured RCF.”

ING Capital LLC served as Administrative Agent and Bookrunner for the Facility. ING Capital LLC; Citibank NA, London Branch; Coöperatieve Rabobank U.A., New York Branch; Credit Agricole Corporate & Investment Bank; and MUFG Bank Ltd. served as Joint Lead Arrangers for the Facility. In addition, three other banks participated at various commitment levels.

Cadwalader, Wickersham & Taft LLP served as counsel to the lenders. Hogan Lovells US LLP served as counsel to the borrower.

About Hartree Partners, LP

Hartree Partners, LP is a leading global merchant commodities firm specializing in energy and associated industries. It was established more than 25 years ago and is jointly-owned by senior management and funds managed by Oaktree Capital Management, L.P.

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